Some colleges recruit but don’t tell the truth

When a college or university claims it has relationships with well-known employers, those promises may convince people to attend — even if those promises aren’t true. That’s exactly what happened with Sollers College, according to an FTC lawsuit. Read on for advice on how to spot these schools — and avoid them.

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The FTC says Sollers College recruited students with promises of high (90%) placement rates within months of graduation, and said they were partnered with well-known companies. In reality, the school’s job placement rate for some programs was as low as 52%, and many of the businesses listed had no relationship with the school at all. The FTC also says, these claims weren’t only meant to get folks in the door — they were a way to encourage students to feel confident in signing up for Income Share Agreements (ISAs) — a method of tuition financing that Sollers profited from.

As part of the settlement, Sollers College has canceled all ISAs issued by the school, resulting in $3.4 million in debt relief for students. If you went to Sollers College and had an ISA that was canceled, there is nothing you need to do to “enroll” and you don’t need to pay for this cancelation – anyone who claims you do is a scammer.

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